Automatically mark membership product orders as completed
If you want purchased items to be available to the user automatically, make sure that “Automatically mark membership product orders as completed” is checked. This will set orders for membership products as complete in WooCommerce when the user has completed checkout and payment.
If you want to maintain this as a manual process (which is the WooCommerce default), leave this unchecked.\
Note that this will only affect orders that contain a membership product. If you have other products in WooCommerce, this setting has no affect on whether those are automatically completed or not.
Add Memberships endpoint to My Account screen
This setting will add an endpoint to the WooCommerce “My Account” screen that displays the user’s memberships. It will also include a link to renew.
The URL for the endpoint will be your My Account URL plus “/memberships/”. For example “/my-account/memberships/”.
Remove membership(s) on refund
This setting will automatically remove a membership from a user if the purchase is refunded through WooCommerce.
Send renewal reminder
This setting adds a scheduled event to automatically send renewal reminders to users based on the time period set in the option. Note that this event will run once per day and will only include those users who are expiring within the existing time parameter.
The email itself is managed within the WooCommerce emails. To edit settings in WooCommerce, go to WooCommerce > Settings and select the “Emails” tab. The renewal reminder will be in the list as “Renewal Reminder to Customer”.
You can click the email title to get the settings specific to this email (see image).
Also note that you can customize the email template the same as you would any other WooCommerce email. The template is located in the plugin’s /templates/emails/ folder. You can copy this to the WooCommerce emails folder in your theme if you wish to customize the template.